Part 1. a Applying Lower of Cost or Market value (LCM) to following items to determine fare inventory value. Make necessary Journal entry in case there is difference in inventory value compare to its original cost. Product Inventory cost Sales Discount Sales Price Replacement Cost A 1,763 113 2.550 1,380 B 1,688 135 2,754 1,290 3.113 180 4.590 1,830 3.600 293 6.120 3.000 1,939 124 2,805 1,518 1.856 149 3,029 1.419 3,424 198 5,049 2,013 3,960 322 6,732 3.300 2,133 136 3.086 1.670